EUR/USD Trade Idea

• Pattern formed- Triple bottom
   
• Major resistance – 1.1210 (21- day MA)
   
• The pair has broken 200-day MA at 1.1146 and declined till 1.11231 at the time of writing. It is currently trading around 1.11512.
   
• EUR/USD has formed a triple bottom around 1.11200 and any further weakness can be seen only below that level.
   
• Any break below 1.1120 will drag the pair further till 1.1045/1.100 in the short term.
   
• On the higher side, any break above 1.1164 (50- day MA) will take the EUR/USD to next immediate resistance at 1.1210/1.1245. Short term bullishness only above 1.12840 (Sep 15th high).
   
• Overall bullishness only above 1.13660.

It is good to sell only below 1.11200 with SL around 1.11650 for the TP of 1.1045/1.1000 

Resistance 

R1- 1.11650

R2-1.1210

R3-1.1245

Support    

S1-1.1120

S2-1.1045

S3-1.1000